Europe Expects Strong Growth for Event Industry

20-11-2017

The second edition of the pan-European survey of the live communication industry, using data from nine countries (2016: seven countries), has - again - revealed positive growth trends with an average of 94% of respondents expecting budgets to grow or stay the same across seven key markets (2016: 83% in six key markets).

The LiveCom Alliance European Industry Survey 2017 captures existing data from Belgium, Germany, Italy, Netherlands, Spain, Sweden, Norway, Portugal and the UK (compared to 2016 new input from Portugal and Norway). More respondents expect budgets to increase than decrease in all markets. Belgium (59%) and Spain (84%) has the highest number of respondents expecting budget increases (2016: The Netherlands 56% and Italy 49%). The rate of expected budget growth is higher in Italy (13,7%) than Germany (6,5%), Spain (5,6%) and The Netherlands (4,2%) (2016: UK 6.3%, Italy 4.3%, Spain and Sweden both 3.7%) .

Sustainable growth

Seven countries are showing substantial growth expectations for events; average (43%). Event marketing budgets are rising by between 4.2% and 13.7%. The number of events are increasing in three countries. And live communication and events are showing a substantial share of the total marcom budget in four countries.

Industry challenges

The other side of the (growth) coin is a persistent pressure on project margins. "Doing more for less", driven by efficiency and reduction of costs, remains a familiar mantra. The ongoing evolution of our business model, following industry trends and client's needs, is also affecting results. Meanwhile compressed lead times are still putting pressure on staff and morale. Converging marcom disciplines is also an irreversible process, creating both integrated agencies as well as requiring more collaboration with specialized agencies. Final, but crucial challenge, is attracting and nurturing new talent. We should realize that it is our responsibility to stimulate and educate the next generation.

The LiveCom Alliance European Industry Survey aims to capture the major trends and economic impact for the live communication industry in the world's biggest free trade area. The 2017 edition is a second step towards building a comprehensive picture of this important industry. Therefore LiveCom Alliance collates data provided by its member associations, as well as non-member associations and media, and will produce future editions of the survey annually.

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